Combined Pre-Closing and Closing

Document Set

- I - R E F I P r e - C l o s e S u b m i s s i o n C h e c k l i s t -Lender Name: IHDA

loan # :

Est. Close Date:

I-REFI PRECLOSE CHECKLIST-REV 6/20/17SH

Borrower Name:

Lender Email:

Lender Contact:(for Conditions)

INSTRUCTIONS:

1. Complete Form, use tab to move down and space bar to check box.

2. E-sign Form (it will prompt you to save a signed copy).

3. Include in IHDA Underwriting Upload.

Payoff ExpDate:

PAGE 1 OF 1

Loan Type:

Lender Loan# :

1) TRID Initial LE (loan estimate)a . Written list of providersb . All Revised LE disclosures and supporting documentation c . Initial CD (closing disclosure)

2) 1st mortgage payoff, good within 15 days of estimated closing or has per diem calculation3) 2nd mortgage payoff (if applicable) good within 15 days of estimated closing or has per diem calculation4) Title Commitment/Binder5) Hazard Insurance policy 6) Standard Flood Hazard Determination 7) Initial 1003 - initialed, signed & dated by Lender and Borrower(s)8) 1008 (FNMA)/1077 (Freddie) Transmittal Summary Amortization Schedule (if applicable) 9) Mortgage Insurance Certificate & PMI Disclosure (if applicable)10) ALL signed Initial Disclosures completed at time of application11) Appraisal for subject property to include all pages 12) Appraisal Update/Final Inspection (if applicable)13) Appraisal Delivery Certification Ackn. Form 14) FNMA / FHLMC UCDP / SSR Submission Summary Report15) FFIEC Rate Spread Calc. Results and Documentation of Lender Lock-in Date, if HPML (if applicable)16) Credit Report - should reflect current mortgage payment history for all mortgages17) AUS all pages with the assistance amount shown as a gift in the assets18) Copies of Underwriting Conditions19) IRS 4506-T (8821 if self-employed)20) Borrower Certification and Authorization signed21) Most recent year of tax transcripts22) 3 years most recent fully executed Tax Returns OR Transcripts from IRS for all Borrowers and Non-Borrowing Spouse 23) 30 days YTD pay stubs (Borrower, Spouse & HH occupant 18+)24) 2 years most recent W-2/1099 (if applicable or per DU/LP findings) (MOST RECENT year for IHDA)25) 2 months Bank Statements for all accounts 26) Homebuyers Education Certificate for ALL Borrowers 27) Landlord Counseling Certificate (if applicable)

28) HUD-92900-A to include pages 1-4 (Initial) 29) Important Notice to Homebuyer (92900B)30) MI/Informed Consumer Choices Notification 31) FHA Case Query32) FHA Case Number Assignment 33) LUTS 92900-LT with CAIVRS/LDP/GSA sections complete and marked “no”

34) VA-26-1802A to include pages 1-2 35) COE (certificate of eligibility) 36) VA-26-1820 Report & Certification of Loan Disbursement37) VA 26-6393 Loan Analysis 38) CAIVRS Authorization for all Borrowers 39) VA Notice of Value with all conditions 40) Borrower Certification and Authorization 41) VA-26-0592 Counseling Checklist (active duty only) 42) Lender Loan Quality Certification (Title 38 USC) 43) VA 26-1866 Commitment Cert (if Prior Approval from VA) 44) Termite/Wood Destroying Insect/Soil Treatment (NPMA-33) 5)

45) RD 3555-18 Conditional Commitment with all attachments /GUS Findings46) 1008 Underwriting Transmittal47) RD 3555-19 Guaranteed Loan Closing Report 48) RD 3555-21 Request for SFH Loan Guarantee 49) RD 3555-17 Loan Note Guarantee (if >90 days from close)

50) Dodd Frank HHF Certification with Date & Property address completed in the middle of the page51) Signed Lender Tax code compliance certification52) Income certification to include Borrower & ALL household members53) IHDA commitment/reservation54) Refinance Borrower Affidavit 55) Income Calculator & Signed income letter from non-borrowing spouse/HH occupants 18+ (if applicable)56) Refi Calculator - fully completed 57) US Bank Borrower Authorization for Release of Information with IHDA loan number58) MCC documents (re-issue, if applicable)

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ILLINOIS HOUSING DEVELOPMENT AUTHORITY I-REFI Post Closing Checklist

IHDA I-Refi Documents:

1) Letter of Guaranty - dated, signed by Lender along with electronic IHDA signature2) Promissory Note - fully completed, signed & dated3) Recapture Agreement - fully completed, signed & dated4) Summary Disclosure - fully completed, signed & dated5) 1st Mortgage, IHDA Rider, Note & Loan specific mortgage docs6) Assistance Impact Letter - dated, testimonial provided, options checked, signed by Borrower,

email and phone number

Loan Documents:

I, , as an authorized representative of the lender listed above, I certify that all of the above documentation is present within this upload.

Lender Name: IHDA Loan #:

Date Closed:

Borrower Name: Lender Email:

Lender Contact:

Payoff Exp Date:

Loan Type:

Lender Loan #:

Preparer:

1) Full Closing Package - same package as submitted to US Bank2) Initial & Final Closing Disclosure: Assistance to be shown under Section L as IHDA Refi Grant3) Final executed 1003 with any addendum & Final 1008/LUTS/26-63934) Payoff valid thru disbursement date or per diem included (not to exceed 30 days)5) Title commitment, Tax Cert, copy of any release(s) - Right of Rescission6) Verbal VOE completed prior to close for all Borrowers7) Proof the Borrowers Identity was verified at close (Copy of ID, Customer Identification Form, etc)8) Signed Tax Returns, LOX's, etc (if signed at close & applicable)9) Final AUS & IHDA Refi Calculator

10) Final disclosures/Loan specific docs signed at closing: Initial Escrow Account Disclosure,W-9,Compliance Agreement, etc

Explanation: U.S. Bank’s Borrower Release of Authorization of Private Information Form

When your loan is purchased by U.S. Bank, Housing Finance Authority Division (HFA), acting as Illinois Housing Development Authority’s Loan Servicer, borrowers are notified by U.S. Bank HFA Division for loan payment collection.

In addition, Illinois Housing Development Authority (IHDA) requires borrowers who receive an IHDA loan to complete U.S. Bank HFA’s required Borrower Authorization of Release of Private Information form. This form permits U.S. Bank HFA, the Loan Servicer, to share necessary data pertaining to the borrower/co-borrower and loan transaction with IHDA.

If the loan is not purchased by U.S. Bank HFA acting as IHDA’s Loan Servicer, no data will be shared between the originating lender and U.S. Bank HFA.

Borrower Authorization of Release of Private Information

The undersigned Borrower and Co-Borrower, if any, (individually and collectively, “Borrower” or “I”) authorize U.S. Bank National Association, and its successors and assigns (“U.S. Bank”), to disclose, share, release, communicate, and provide to and with ILLINOIS HOUSING DEVELOPMENT AUTHORITY (“Third Party”) private information and documentation (collectively, “Information “) contained in or related to my mortgage loan, which is identified below. This Information may include, but is not limited to, my name, address, telephone number, social security number, FICO score, loan data, credit report, income, government monitoring information, loss mitigation application status, account balances, program eligibility, reports, and payment activity, including delinquencies. I understand that some or all of the Information is classified as private information with regard to an individual. I understand that it may be necessary for Third Party to have access to my Information in order to effectively manage Third Party’s loan programs.

I have read and understand U.S. Bank’s Privacy Pledge which is attached to this Authorization. I am aware that U.S. Bank is committed to compliance with its Privacy Pledge and with the Privacy of Consumer Financial Information (Regulation P) Gramm-Leach-Bliley Act (GLBA), the Fair Credit Reporting Act (FCRA) and other legal requirements relating to the privacy and security of my Information.

I understand that U.S. Bank will take reasonable steps to verify the identity of Third Party before releasing my Information to Third Party, but U.S. Bank has no responsibility or liability to verify the identity of Third Party or what Third Party will do with my Information provided by U.S. Bank. I agree to indemnify and hold U.S. Bank harmless in the event Third Party misuses my Information provided to Third Party by U.S. Bank.

This authorization will not be valid unless I sign the authorization and will remain in effect until I revoke it in writing and deliver my revocation to U.S. Bank.

Loan No.: ___________________________

Property Address: ___________________________________ ___________________________________ ___________________________________

Borrower Name: ___________________________________

Borrower Signature: ___________________________________

Date:_______________________

Co-Borrower Name: __________________________________

Co-Borrower Signature: __________________________________

Date:_______________________

usbank.com Rev. 12 31 14

Rev. 11/14

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FACTS WHAT DOES U.S. BANK DO WITH YOUR PERSONAL INFORMATION?

Why? Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

What? The types of personal information we collect and share depend on the product or service you have with us. This information can include: ■ Social Security number and income■ account balances and payment history■ transaction history and credit history

How? All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons U.S. Bank chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information Does U.S. Bank share? Can you limit this sharing? For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus

Yes No

For our marketing purposes— to offer our products and services to you

Yes No

For joint marketing with other financial companies No We don’t share For our affiliates’ everyday business purposes—information about your transactions and experiences

Yes No

For our affiliates’ everyday business purposes—information about your creditworthiness

Yes Yes

For nonaffiliates to market to you No* We don’t share

To limit our sharing

■ Call 800-370-8580—our menu will prompt you through your choice or■ Visit us online: http://www.usbank.com/privacy and tell us your preference on the “Exercise

Your Privacy Choice” page.Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.

To limit our direct marketing

Please note: We may contact our existing customers by mail, telephone, or email to offer additional financial products or services including products and services offered by nonaffiliates that we believe may be of interest to you. You may direct us not to send you such offers.

■ To limit our direct marketing to you by mail or telephone, please call 800-370-8580--our menuwill prompt you through your choices, or visit us online: http://www.usbank.com/privacy and tellus your preference on the “Exercise Your Privacy Choice” page.

■ To limit our direct marketing to you by e-mail, visit us online: http://www.usbank.com/privacyand tell us your preference on the "Email Preferences" page.

Questions? Call 800-872-2657 or go to usbank.com

Page 2

Who we are Who is providing this notice?

Companies with the U.S. Bank and U.S. Bancorp names and other affiliates. Please see below for a list of other affiliates that do not have a U.S. Bank or U.S. Bancorp name.

Except for California, North Dakota and Vermont residents, a different notice applies to customers who leased or purchased a vehicle and obtained U.S. Bank financing directly through a dealership. That notice from U.S. Bank—Dealer Financial Services is available online at http://www.usbank.com/privacy or by calling 800-437-9497.

What we do How does U.S. Bank protect my personal information?

To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

How does U.S. Bank collect my personal information?

We collect your personal information, for example, when you

■ open an account or apply for a loan

■ use your credit or debit card or make deposits or withdrawals from your account

■ tell us about your investment or retirement portfolio

We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.

Why can’t I limit all sharing?

Federal law gives you the right to limit only

■ sharing for affiliates’ everyday business purposes—information about your creditworthiness

■ affiliates from using your information to market to you

■ sharing for nonaffiliates to market to you

State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.

What happens when I limit sharing for an account I hold jointly with someone else?

Your choices will apply individually—unless you tell us otherwise.

Definitions Affiliates Companies related by common ownership or control. They can be financial and nonfinancial

companies.

■ Our affiliates include companies with a U.S. Bank and U.S. Bancorp name; financial companiessuch as U.S. Bank National Association and U.S. Bancorp Investments, Inc.

Nonaffiliates Companies not related by common ownership or control. They can be financial and nonfinancial companies.

■ U.S. Bank does not share with nonaffiliates so they can market to you

Joint marketing A formal agreement between nonaffiliated financial companies that together market financial products or services to you.

■ U.S. Bank doesn’t jointly market

Page 3

Other important information You may have other privacy protections under applicable state laws. To the extent these state laws apply, we will comply with them when we share information about you.

For California residents: In accordance with California law, we will not share information we collect about you with companies outside of our corporate family, except as permitted by law, including, for example, with your consent or to service your account. We will limit sharing among our companies to the extent required by California law.

For Vermont residents: In accordance with Vermont law, we will not share information we collect about you with companies outside of our corporate family, except as permitted by law, including, for example with your consent or to service your account. We will not share information about your creditworthiness within our corporate family except with your authorization or consent, but we may share information about our transactions or experiences with you within our corporate family without your consent.

For Nevada residents: We may contact our existing customers by telephone to offer additional financial products that we believe may be of interest to you. You have the right to opt out of these calls by adding your name to our internal do-not-call list. To opt out of these calls, or for more information about your opt out rights, please contact our customer service department. You can reach us by calling 800-USBANKS (800-872-2657), clicking the “Email Us” link at usbank.com/privacy, or writing to P.O. Box 64490, St. Paul, MN 55164. You are being provided this notice under Nevada state law. In addition to contacting U.S. Bank, Nevada residents can contact the Nevada Attorney General for more information about your opt out rights by calling 702-486-3132, emailing aginfo@ag.nv.gov, or by writing to:

Office of the Attorney General, Nevada Department of Justice, Bureau of Consumer Protection 100 North Carson Street, Carson City, NV 89701-4717

Additional U.S. Bancorp affiliates The Miami Valley Insurance Company Red Sky Risk Services, LLC

Mississippi Valley Company Elan Life Insurance Company

*Please keep in mind that, as permitted by applicable law, if you have a private label credit card account with us, we shareinformation about you with our financial or retail partners in connection with maintaining and servicing your account, including for that financial or retail partner to market to you. Federal law does not give you the right to limit this sharing.

Illinois Housing Development Authority Certification of Income

This SIGNED form is to be submitted to the Illinois Housing Development Authority (“Authority”); original must be retained by lender if not submitted to IHDA.

Program Name:

Borrower/Applicant name:

Co-Borrower/Co-Applicant name:

Address of Property:

City, State, Zip:

The undersigned certifies that:

1) This Certification of Income is being delivered in connection with the undersigned'sapplication for funds in connection with the above referenced Program.

2) The following individuals will occupy the property [unit] [home] listed above:

OCCUPANT RELATIONSHIP AGE A.

B.

C.

D.

E.

F.

3) The total ANNUAL household income as of the date of application is as follows:

I certify that the information above is true and complete to the best of my knowledge on the date hereof. If this Certification of Income is executed more than 90 days prior to the Closing Date of the purchase of the property [unit] [home], I agree to update and recertify the accuracy of the information in this Certificate within 90 days prior to such Closing Date.

Borrower/Applicant Signature Date

Co-Borrower/Co-Applicant Signature Date

Illinois Housing Development Authority Lender Tax Code Compliance Certification

LENDER CERTIFICATION:

(lender) have reviewed pertinent I certify that I,

documentation for:

Borrower(s) and have determined that total

household income is below applicable county limit, purchase price is below applicable

county limit, property is a qualified dwelling meeting Illinois Housing Development

Authority’s (IHDA) requirements, and where applicable, buyer (and spouse if applicable)

is a first time home buyer (or exempt).

I hereby acknowledge that the checklist provided by IHDA was utilized in part to

determine eligibility and approval of buyer(s) for IHDA’s program, and that the checklist

is not the sole source of information in determining program eligibility. Signing this

certification does not negate the need to read and understand the IHDA procedural guide.

Reviewed by: on

Lender Authorized signature Date

Print Signee’s Name

1/11/2016

1 1/11/2016

IHDA TAX CODE COMPLIANCE REVIEW WORKSHEET

(For lender use in determining tax code compliance)

Designed to assist lender in determining borrower eligibility for IHDA program (income, purchase price, first time home buyer

(or exempt), qualified dwelling. Lender required to certify that loan is compliant on separate form.

IHDA PROGRAM _____________________________________ DATE CLOSED ____________________________

IHDA loan number(s): 1st_______________________________ 2nd____________________________

MCC #:___________________________________________

LENDER ___________________________________________________________________________________________

CONTACT info (name, phone, email) ____________________________________________________________________

ORIGINATOR / LO Contact Info (name, phone, email)

____________________________________________________________________________________________________

Borrower/Co-Borrower Name(s) ________________________________________________Household size: __________

Property Address

________________________________________________________________County:___________________________

County Purchase Price Limit $__________________________ County Income Limit $________________________

Purchase Price: $____________________________ Appraised Value: $_____________________________

Base Loan Amt. $_____________________+ UFMIP/FF__________________ = Total 1st Mtge.$____________________

2nd/DPA Loan Amt. $____________________ (verify all loan amounts are correct in MITAS BEFORE submission to

IHDA)

Household Income Income Calculator - Lender must retain original

__________ Annual Income Calculator fully completed and

__________ Certification has been signed by lender (mandatory)

Income Certification – Lender must retain original __________ Income Certification – must be completed, signed & dated by borrower and lender PRIOR to close

__________ Household occupants must agree with income calculator

Income Documentation __________ Income calculation is supported by pay stubs dated within agency regulations (must show total year to date

earnings)

__________ Income from all sources (Interest, Dividend, Bonus, Part Time, Alimony, Child Support, Self- Employment,

EBay/PayPal, Soc. Security, etc.) has been included in annual income calculation

__________ Income from non-purchasing (non-borrowing) spouse waiving homestead is included in total annual calculation

AND __________ 3 year’s signed tax returns ** (or 3 years IRS transcripts) are included in documentation AND

__________ 30 days consecutive pay stubs showing gross year to date earnings, pay stubs must be current as per agency

regulations

__________ Income from HH occupant aged 18 or over for all current employment is documented with 30 days consecutive

pay stubs which show year to date earnings

__________ IF no income is earned by non-borrowing spouse or by HH occupant 18 or over, a signed LOX FROM the

non-borrower occupant re: income earned or received from any source is in file.

__________ Documentation to support income derived from all sources is provided (i.e. Signed YTD P & L, SS letter or

evidence of at least 3 month’s direct deposit, 1099, letter from pension board, etc.)

__________ Income total must include income from ALL sources, AND from ALL Household members 18 or over. If it does

not, recalculate totals and obtain relevant documentation (such as signed statement certifying no other income from any

source).

W2’s for MOST RECENT tax year (All programs)

__________ ALL W2’s from most recent/previous year for all employers included in file

__________ Prior VOE’s for ALL jobs in which borrower is no longer employed (verbal is okay)

__________ IF additional employment discovered, income total is included in IHDA’s income calculator

Copies of SIGNED FEDERAL TAX RETURNS (or transcripts directly from IRS) for most recent 3 years with ALL

schedules as applicable, must be submitted EVEN IF buyer is not required to be first time home buyer: ***

Buyer signed tax return/transcript from IRS ________ tax tear 20 ________

Buyer signed tax return/transcript from IRS ________ tax year 20 ________

Buyer signed tax return/transcript from IRS ________ tax year 20 ________

Spouse/Co-Buyer signed tax return/transcript from IRS ________ tax year 20 ______

Spouse/Co-Buyer signed tax return/transcript from IRS ________ tax year 20 ______

Spouse/Co-Buyer signed tax return/transcript from IRS ________ tax year 20 ______

*** If non-borrowing spouse: IRS transcripts or 3 years’ signed Federal tax returns or fully completed, signed &

notarized tax affidavit is in file.

1/11/2016

2 1/11/2016

IMPORTANT NOTE: IF LOAN CLOSES AFTER April 15, signed tax return(s) for most recent filing year is (are)

required. Loan cannot be purchased until we have the tax return for the most recent filing year.

Income Documentation continued:

Bank Statements

__________ 2-3 consecutive month’s current bank statements for all accounts have been provided (check for deposits that

could be income)

__________ Review bank statement for additional deposits which could be income; if income is noted, request appropriate

documentation (such as: signed YTD P & L, copy of court order for child support, signed statement re: deposits, etc.)

__________ Interest/dividend income is included in total income

Home Buyer Status __________ Buyer is a first time home buyer:

__________ No real estate is listed on credit report

__________ Tax returns show no deduction for real estate taxes or mortgage interest __________ OR Buyer is not required to be 1st time home buyer due to the following

__________ Buyer is Qualified Veteran (DD214 and/or COE in file)\

__________ Buyer is purchasing in targeted area. List Census Tract # _____________________

__________ Program does not require Bor. to be 1st time home buyer. List Program ___________________________

Current ownership of Mobile home – All FTHB and MCC

__________ IF buyer currently lives in a mobile home, PHOTOS of the hitch and axles are located in file

__________ Home is a single-wide mobile home (Primary residence of a double-wide mobile in last 3 years disqualifies buyer)

Credit Report __________ Included in file

__________ No recent or large loan amounts on credit report, which could be home loans

__________ No mortgage loan appears on credit report OR

__________ Signed LOX (why buyer qualifies for program) ~ or~ evidence of sale of other real estate (HUD1/CD) in file.

__________ Credit Scores are within program parameter (660 FHA loans committed 12/1/2015 & after / 680 conventional

>95% / 640 FNMA, VA, USDA).

List credit scores: ________/________/ ________ and ________/________/________

Property Requirements __________ Copy of signed purchase agreement / contract AND all addenda

__________ Address on contract agrees with address on affidavits

__________ Copy of purchase agreement includes all riders, all signatures.

__________ No unacceptable clauses included – e.g. seller credit exceeds agency regulations; purchase agreement includes

excess personal property, etc.

__________ Contract signed only by borrowers to be obligated on note (no non-borrowers are permitted to sign contract,

such as non-borrowing spouse). No non-occupant co-borrowers permitted.

__________ Purchase price is below IHDA program limit

__________ Copy of APPRAISAL

__________ IF property appraises over purchase price limit, loan is disqualified if buyer and seller are related.

__________Are there any extenuating circumstances such as needed repairs? If so, provide repair/completion cert/inspection

__________ Property is 5 acres or less

__________ Manufactured home is prohibited for commitments dated 12/1/2015 or after.

IHDA Forms/Requirements – Original documentation must be retained by lender (As of 5/19/2015, lender is permitted to forward COPIES of original IHDA documentation to IHDA via upload). Lender must

have originals in their file with certified facsimile of IHDA docs permitted to be sent to IHDA.

IHDA Submission Cover and Data Summary __________Each section must be fully completed; upload copy

Buyer Affidavit (Use form dated 8/2014) - required for ALL transactions

__________ Property address completed including street number, direction, street name, city/town, zip – incl. legal if desired

__________ Affidavit is signed by borrower, co-borrower / non borrowing spouse *(as applicable)

__________ Affidavit signed PRIOR TO CLOSE

__________ Signatures are properly notarized

Seller Affidavit Use form dated 8/2014 – Purchase transactions, ALL programs (note: FNMA REO can use 2009 affidavit)

__________ Property address completed including street number, direction, street name, city/town, zip – incl. legal

__________ Affidavit is signed by seller PRIOR TO CLOSE and

__________ Signatures are properly notarized

Signed Servicing Letter for 2nd __________ Signed by borrower, dated at close

Tax Code Compliance Certification

__________ Signed by lender, dated

Income Calculator w/signed Certification

__________ Signed by Lender at close

IHDA Income Certification

__________Fully completed, including #3, signed by borrower and dated

1/11/2016

3 1/11/2016

Recapture Notice __________ Signed by borrower and spouse/all buyers, dated PRIOR TO CLOSE. (Remember that only one recapture can

apply. If MCC, no MRB recapture would be signed.)

IF MCC ~ MCC documents properly completed, signed and notarized PRIOR TO CLOSE:

_____MCC 25 _____ MCC26 _____MCC28 _____MCC29 _____MCC RECAPTURE

MCC documents properly completed, signed and notarized AT CLOSE or after:

MCC32 _____ MCC33 _____ and

______ CHECK FOR $350.00 payable to Illinois Housing Development Authority sent to IHDA’s Lockbox

______ Copy of MCC registration/commitment

~OR~

MCC Opt Out Letter __________ Signed and dated with reason shown

1st Time Home Buyer Counseling Cert. signed by borrower(s). – Purchase transactions, ALL programs

__________ A Certificate of Completion for each borrower for First Time Home Buyer Counseling/Training in file.

Counseling Agency & Cert #: ________________________________________________

Date of training_______________________(valid for one year)

Copy of DD214/COE/Evidence of military status – to document exempt status, or for VA loans

__________ Copy of Certificate of Eligibility, DD214 OR Service Record – evidence of veteran / active duty status

Note: May need “Alive and Well Statement” if on active duty overseas and VA loan transaction

HUD-1/CD

__________ Signed, borrower name correct, address correct, loan amount correct as reserved in MITAS, closing date entered

into MITAS

MITAS Reservation/Commitment(s) – All programs

__________ Loan closed at rate as per commitment/loan closed as committed

__________ Loan amount (Base and Total) has been updated in MITAS

NOTE: LOAN MUST BE PURCHASED WITHIN 60 DAYS OF RESERVATION. NO CANCELLATIONS AND

RE-RESERVATIONS PERMITTED UNLESS PROPERTY FELL THROUGH

Miscellaneous issues: __________ Copy of divorce decree/property settlement/court order for child support/credit LOX’s, other LOX’s, etc.

__________ Copy of birth certificate / marriage certificate or other documentation to validate increase in HH size, name

change, etc.

__________ **Tax Affidavit (if MCC, original MCC27) properly completed when borrower/spouse not required to file

Federal tax return for any given year.

__________ DTI must be 45.00% or less

__________ No manual underwrite

NOTE: YOU WILL BE CONTACTED IF ADDITIONAL DOCUMENTATION IS REQUIRED AS A RESULT OF

QUALITY CONTROL REVIEW.

12/01/2015 and after:

NO MANUFACTURED HOMES

CREDIT SCORE MINIMUM 660

MAX DTI HAS ALWAYS BEEN 45.00%; NO EXCEPTIONS

NO MANUAL UNDERWRITES FOR ANY LOAN TYPE; AUS APPROVE/ACCEPT ONLY

7/2016

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REFINANCE

ILLINOIS HOUSING DEVELOPMENT AUTHORITY

BORROWER AFFIDAVIT

INSTRUCTIONS:

Complete item #1. The remaining items must be reviewed, investigated and evaluated by the

lender to whom you submitted your mortgage loan application (the “Lender”) and its

respective agents.

The Borrower Affidavit must be executed by the Borrower(s) (and non-borrowing spouse

waiving homestead) and duly notarized.

BORROWER AFFIDAVIT

This Borrower Affidavit shall be considered part of the application for the loan, and is

incorporated therein.

If any statement made by you in this affidavit is false, the mortgage loan made to you will not be

eligible for the refinance program of the Illinois Housing Development Authority (“IHDA”) and in

such event the outstanding principal balance of the mortgage loan may be declared immediately due

and payable.

It may be a federal offense punishable by a maximum of a $5,000 fine, two years imprisonment, or

both, knowingly to make a false statement in this affidavit (Title 18 United States Code, Section 1014).

Read this affidavit carefully to be sure the information in it is true and complete before

signing this form. Complete all fields as indicated. If any item is not applicaple, enter N/A.The information provided in this affidavit is subject to verification by IHDA, the Lender,

and their respective agents.

The undersigned, hereinafter collectively referred to as “the Borrower,” affirms as follows:

1. The Borrower is refinancing the property located at:

Street Address:

City:

State:

ZIP:

Or which is legally described as follows (the “Property”):

7/2016

2 of 4

2. The Borrower currently occupies the Property as the Borrower’s principal

residence and will continue to occupy the property as principal residence for at least 3 years

following the closing on the refinance.

3. The Borrower has no present intent to lease, sell, assign or transfer any interest

in the Property to another person or entity.

4. The Borrower has not entered into any agreements, understanding or other

arrangement to lease, sell, assign or transfer the referenced Property.

5. If the Residence is a two-unit residence, the Borrower will occupy one unit of

the Property.

6. The Borrower does not now and does not intend to use more than fifteen percent

(15%) of the total area of the Property primarily in a trade or business in a manner which

would permit the Borrower to take a deduction for any portion of the costs of the Property for

expenses incurred in connection with such trade or business use of the Property on the

Borrower’s federal income tax return.* No portion of the Residence is specifically designed

for any commercial use.

7. The Borrower does not now and does not intend to use the Property as an investment

Property (except with respect to the rental of a unit in a two-unit residence).

8. The Property is a completed residential unit. If the Property is existing housing,

no repair or rehabilitation to the Property is necessary to bring the Property into compliance

with industry accepted underwriting standards.

9. The Borrower is using the proceeds of the Mortgage loan for the purpose of

refinancing the existing first mortgage and/or purchase money second mortgage.

10. The Borrower has reported all household income to IHDA.

11. The Borrower agrees to notify IHDA immediately in the event that he or she

vacates the Property, and to keep IHDA informed of his or her current mailing address.

12. The Borrower will not unreasonably withhold his or her consent to any inspection

of the Property (the exterior and interior thereof) conducted by the Lender or its agents and/or

IHDA or its agent, for the purpose of verifying the truth of any of the statements contained in this

Borrower Affidavit, provided the inspection is conducted at a reasonable time and in a

reasonable manner.

* For at-home day care, less than 15% of the residence is used regularly and exclusively for the business.

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13. All of the land upon which the Property residence is located for the purposes of theresidence and is not specifically designed for commercial use or to generate income. If the land exceeds any minimum lot size for zoning purposes by an amount sufficient to subdivide the

property without a zoning variance, the Borrower will not (a) subdivide or otherwise sell any of

the land on which the Property residence is located (except in conjunction with a future sale of

the Property) or (b) seek any variance from applicable zoning, minimum lot size or set-

back requirements in order to subdivide the land.

14. The Borrower’s first mortgage on the Property is current or otherwise in

good standing with the mortgage lender.

15. The Borrower made no material misstatements in connection with the

application for the Mortgage loan evidenced by the Promissory Note and Recapture

Agreement.

16. The Borrower has duly executed a Uniform Residential Loan Application and

any applicable addendum and states that on said form, all sources of Borrower income have

been disclosed and recited, including salary, commissions, bonuses, earnings from

part-time employment, interest, dividends, tips, gains on sales of securities, annuities,

pensions, royalties, Veterans Administration compensation, net rental income from all

sources, alimony, child support, public assistance, sick pay, Social Security benefits,

income received from business activities or investments, estate or trust income,

unemployment compensation and miscellaneous income.

SIGNATURE PAGE FOLLOWS

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BORROWER SIGNATURE PAGE

Borrower’s Signature

(Print Borrower Name)

Co-Borrower’s (OR non-borrowing spouse waiving homestead) Signature

(Print Co-Borrower (OR non-borrowing spouse waiving homestead) Name

Borrower email address

State of

(Name of State)

County of

(Name of County)

This instrument was acknowledged before me this day , . (Day) (Month) (Year)

(Print Borrower Name) (Print Co-Borrower Name) (OR non-borrowing spouse waiving homestead)

Notary Stamp Notary Public Signature

SS.

The following information is requested by the federal government in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111-203). You are required to furnish this information. The law provides that no person shall be eligible to receive assistance from the Hardest Hit Fund Program, authorized under the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.), or any other mortgage assistance program authorized or funded by that Act, if such person, in connection with a mortgage or real estate transaction, has been convicted, within the last 10 years, of any one of the following: (A) felony larceny, theft, fraud or forgery, (B) money laundering or (C) tax evasion.

I/we certify under penalty of perjury that I/we have not been convicted within the last 10 years of any one of the following in connection with a mortgage or real estate transaction:

(a) felony larceny, theft, fraud or forgery,(b) money laundering or(c) tax evasion

Borrower Signature: Date:

Date:

HARDEST HIT FUND DODD-FRANK CERTIFICATION

Co-Borrower Signature:

In making this certification, I/we certify under penalty of perjury that all of the information in this document is truthful and that I/we understand that the Servicer, the U.S. Department of the Treasury, or their agents may investigate the accuracy of my statements by performing routine background checks, including automated searches of federal, state and county databases, to confirm that I/we have not been convicted of such crimes. I/we also understand that knowingly submitting false information may violate Federal law.

ILLINOIS HOUSING DEVELOPMENT AUTHORITY’S HARDEST HIT FUND Home Preservation Program - I-Refi Program Certification

Reference is hereby made to the Uniform Residential Loan Application (the “URLA’) of the Borrower dated as of with respect the property located at:

. Illinois Housing Development Authority (IHDA) is hereby entitled to rely on all information provided and representations made in such URLA as if provided in this I-Refi - Home Preservation Program, including, without limitation, the Acknowledgement and Agreement set forth in Section IX of such URLA. I acknowledge that knowingly failing to disclose material information to IHDA, or making or causing to be made a false, or fraudulent statement or representation of material fact in an application for use in determining eligibility for a payment under IHDA’s Hardest Hit Fund Home Preservation Program - I-Refi Program, may constitute a crime punishable under State and/or Federal law. I, therefore, certify, under penalty of perjury that all information I have given on the URLA, other Program documents, and in any accompanying statements, is complete, true, and correct and I acknowledge that any material omission or false, fictitious, or fraudulent statement or representation or entry could be the basis for civil penalties and assessments under State and/or Federal law.

This Certificate is effective on the earlier of the date listed below or the date received by your lender.

- Pg 1 of 1 -

IHDA MORTGAGE RIDER

NOTICE TO

MORTGAGOR

THE PROVISIONS OF THIS RIDER SUBSTANTIALLY MODIFY THE TERMS OF THE LOAN. DO NOT SIGN

THE NOTE OR THE SECURITY INSTRUMENT UNLESS YOU READ AND UNDERSTAND THESE

PROVISIONS.

RIDER TO MORTGAGE BY AND BETWEEN ____________________________________________________________(THE

“MORTGAGOR”) AND __________________________________________________(THE “LENDER”)

The Mortgagor is executing simultaneously herewith that certain mortgage, dated _________________, ______ (the "Security

Instrument") to secure a loan (the "Loan") made by __________________________________(The "Lender") in the amount of

$_____________.____ to the Mortgagor, evidenced by a note (the "Note") of even date herewith. It is expected that the Loan will be

purchased or securitized by the Illinois Housing Development Authority (the "Authority"). It is a condition of the making of the Loan

that the Mortgagor execute this Rider.

In consideration of the respective covenants of the parties contained in the Security Instrument, and for other good and valuable

consideration, the receipt, adequacy and sufficiency of which are acknowledged, Mortgagor and Lender further mutually agree as

follows:

1. The rights and obligations of the parties to the Security Instrument and the Note are expressly made subject to this Rider.

In the event of any conflict between the provisions of this Rider and the provisions of the Security Instrument and the Note,

the provisions of this Rider shall control.

2. Notwithstanding the provisions of Paragraph 5 of the Security Instrument, the Mortgagor agrees that the Lender or the

Authority, as applicable, may, at any time and without prior notice, accelerate all payments due under the Security

Instrument and Note, and exercise any other remedy allowed by law for breach of the Security Instrument or Note, if (a)

the Mortgagor sells, rents or fails to occupy the property described in the Security Instrument as his or her permanent and

primary residence; or (b) the statements made by the Mortgagor in the Affidavit of Buyer (Illinois Housing

Development Authority Form MP-6A) are not true, complete and correct, or the Mortgagor fails to abide by the

agreements contained in the Affidavit of Buyer; or (c) the Lender or the Authority finds any statement contained in that

Affidavit to be untrue. The Mortgagor understands that the agreements and statements of fact contained in the Affidavit of

Buyer are necessary conditions for the granting of the Loan.

3. The provisions of, this Rider shall apply and be effective only at such times as the Authority securitizes your loan or is

the holder of the Security Instrument and the Note, or is in the process of securitizing or purchasing the Security

Instrument and the Note. If the Authority does not securitize or purchase the Security Instrument and the Note, or if the

Authority sells or otherwise transfers the Security Instrument and the Note to another individual or entity, the provisions

of this Rider shall no longer apply or be effective, and this Rider shall be detached from the Security Instrument.

MORTGAGOR

ILLINOIS

HOUSING

DEVELOPMENT Mortgage Rider

AUTHORITY REVISED 10/10

Lender Work Flow – IHDA Refinance (I-Refi) ProgramLe

nd

er P

roce

ss

Effective 8/1/2016

Contact Information (IHDA and US Bank)

Pre-Closing Documents (Send to IHDA)

IHDA Deliver Package (Post Close)

Lender Takes in Application

Ten (10) business days prior to close the Lender uploads

complete Clear to Close Package with all supplemental

Documentation

IHDA Approves file and emails the following completed items back

to Lender: Promissory Note, Recapture Agreement, Summary

Disclosure, Guaranty Letter

Lender Closes Loan

Lender uploads IHDA Delivery Package to be reviewed by IHDA

and simultaneously sends US Bank a Credit Package for Review

US Bank Purchases 1st from Lender and reimburses the

amount of the 2nd

IHDA Contact Information - Call (877) 456-2656

- Email AtHomeIllinois@IHDA.org

US Bank Contact Information - Call (800) 562-5165 - New Submissions - hfaeastcommunications@usbank.com

- Loan Defi’s - hfacommunications@usbank.com

· *Full Clear to Close Package

· Current Pay-Off· IHDA Docs· I-Refi Calculator

· Dodd-Frank· Summary Disclosure· Income Calculator· Income Cert

· Final signed 1003· Final CD and Pay-Off· VOE (Verbal)· **Homestead Waivers· Signed Right of Rescission· LOX’s signed at Close· Reason for Hardship Letter

· Promissory Note· Recapture Agreement· Summary Disclosure· Guaranty Letter· ***Signed Tax Returns· Mortgage Rider

(Attached to 1st)

* Full Clear to Close Package includes: Appraisal, Title & Investor Package pursuant to “Lender Pre-Close Checklist”** Only applies to Non-Borrowing Spouse*** If signed at Close

Lender fronts monies for closing

· Pre-Closing LTV ≥ 110%· Post-Closing LTV ≥ 90% and ≤ 97%· Maximum Assistance is $50,000 forgiven over 3 years· - Previous HHF borrowers may be eligible up to $85,000